CANADA: PM Convenes Canada-US Economic Summit For 7 Feb Following Tariff Pause

Prime Minister Justin Trudeau has announced a Canada-US Economic Summit to take place in Toronto on Friday 7 February. In a press release, the PM's office said the summit will look to expand the work of the newly formed Council on Canada-US Relations and include leaders from trade, business, public policy, and organised labour. "Using their sectoral expertise, the leaders will explore ways to grow Canada’s economy, make it easier to build and trade within the country, diversify export markets, and rejuvenate productivity. The Summit will see increased co-ordination, co-operation, and interoperability between partners, including through issue- and sector-specific conversations." 

• It would appear that rather than being a summit for Canadian and US business and political figures to meet, it will focus on boosting domestic investment and identifying potential markets for Canadian goods other than the United States.
• After threatening the imposition of 25% tariffs on Canadian (and Mexican) imports, US President Donald Trump agreed to pause these measures on 3 Feb after commitments from Ottawa and Mexico City regarding border security and the flow of illegal narcotics. The pause is in place for 30 days and will allow for further negotiations.
• The increasingly bitter spat between the erstwhile allies has sparked a high-profile 'buy Canadian' campaign in some outlets.